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You are at:Home » Binance Labs Backs Kernel to Drive Restaking and DeFi Innovation on BNB Chain
Investment & Funding

Binance Labs Backs Kernel to Drive Restaking and DeFi Innovation on BNB Chain

Ravi KumarBy Ravi KumarNovember 25, 2024Updated:November 25, 2024No Comments2 Mins Read
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Binance Labs Invests in Kernel to Drive Restaking Innovation on BNB Chain
Binance Labs Invests in Kernel to Drive Restaking Innovation on BNB Chain
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Binance Labs has made an investment in Kernel, a restaking infrastructure project aiming to reshape the BNB Chain ecosystem. Kernel’s technology enables BNB’s security to be transformed into programmable trust, fostering the development of decentralized applications (dApps) and middleware with shared economic security.

The project capitalizes on the growing interest in restaking, a mechanism that has gained momentum within Ethereum but remains underexplored on other layer-1 blockchains. Kernel is addressing this gap by launching restaking infrastructure on BNB Chain, utilizing BNB Liquid Staking Tokens (LSTs) and restaked BNB as economic security to support decentralized finance (DeFi) innovation.

Kernel has already partnered with over 20 dApps, including the decentralized AI coprocessor Mira and ZK proof aggregation protocol Electron. Collaborations with platforms like ListaDAO, Solv, and YieldNest aim to expand the utility of restaked assets, with future plans to integrate BTC and other yield-bearing assets into its economic security framework.

“Kernel exemplifies the type of innovative project that aligns with Binance Labs’ mission to bring more users onto Web3 by supporting meaningful technology and advancing the ecosystem,” said Alex Odagiu, Investment Director at Binance Labs.

Kernel’s strategy extends beyond BNB Chain, with ambitions to integrate across additional layer-1 blockchains. The platform’s approach—enhancing the utility and capital efficiency of staking tokens—provides a foundation for developers to create scalable projects while maximizing asset utility for users.

Amitej G., Co-Founder of Kernel, highlighted the broader vision: “We’re not just growing the restaking space; we’re unlocking new dimensions of utility and resilience for BNB-based assets.”

By supporting Kernel, Binance Labs signals its commitment to fostering innovations that drive scalability, security, and value creation across the Web3 ecosystem.

Read Also: BounceBit Raises $6M Seed Funding for BTC Restaking

Binance Labs DeFi Staking
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Ravi Kumar
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Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

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